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Equity and Capital
9 Months Ended
Sep. 30, 2017
Equity [Abstract]  
Equity and Capital
Equity and Capital
ATM
In 2015, the Parent Company entered into an at-the-market equity offering program (“ATM”) through which the Parent Company may sell from time to time up to an aggregate of $400.0 million of its common stock through sales agents over a three-year period. No shares have been issued under the ATM and as result $400.0 million of common stock remained available for issuance under the ATM as of September 30, 2017.

Common Stock
In connection with the vesting of restricted stock units ("RSUs") under the Company's equity-based compensation plan, the Company withholds shares to satisfy statutory minimum tax withholding obligations. During the nine months ended September 30, 2017 and 2016, the Company withheld 0.1 million shares.

Dividends and Distributions
During the three months ended September 30, 2017 and 2016, the Company declared common stock dividends and OP unit distributions of $0.260 per share/unit and $0.245 per share/unit, respectively. As of September 30, 2017 and December 31, 2016, the Company had declared but unpaid common stock dividends and OP unit distributions of $81.1 million and $80.6 million, respectively. These amounts are included in Accounts payable, accrued expenses and other liabilities on the Company's unaudited Condensed Consolidated Balance Sheets.

Non-controlling interests
During the nine months ended September 30, 2017, the Company exchanged 0.4 million shares of the Company's common stock for an equal number of outstanding OP Units held by certain members of the Parent Company's current and former management. As of September 30, 2017, the Parent Company beneficially owned, through its direct and indirect interest in BPG Sub and the General Partner, 100.0% of the outstanding OP Units.

Preferred Stock
During the nine months ended September 30, 2017, the Company redeemed all 125 shares of BPG Sub Series A Redeemable Preferred Stock for $10,000 per share.